Fleclosure Question Paper
Disclosures (12-Hours)
3/8/13 11:45 PM
CHAPTER FOUR - FINANCING & CREDIT DISCLOSURES Chapter 4 Quiz
NAME: Lisa Torres PIN: CRE120421
State Average
Congratulations, you have passed this Chapter Quiz. Your score was 80% (8 correct out of 10 questions). We recommend that you retake the quiz until you receive a score of 100%. Use the button at the bottom of this page to retake the quiz or click the NEXT button to proceed to the next chapter.
Your Grade
86/100
Chapter 4 of 4
83/100 1: The Real Estate Settlement Procedures Act (RESPA) is applicable to the sale of:
(a) Commercial property financed by a conventional lender. (b) Industrial property financed by a federally related mortgage loan. (c) Residential real estate financed …show more content…
(b) As soon as practicable, but before execution of any note or security documents. (c) As soon as practicable, but before the appraisal comes in. (d) As soon as practicable, but prior to recording. Your answer is correct.
8: If the required seller carry-back disclosure statement is not given as prescribed by law, the credit document (note, deed of trust, contract of sale etc.) is: (a) Void and unenforceable. (b) Valid and enforceable. (c) Voidable by the purchaser at any time. (d) Voidable by the purchaser within three days. Your answer is correct.
9: Which of the following best describes a Mello-Roos community facilities district?
(a) Additional taxes assessed for the privilege of living in a quiet zone. (b) Special assessments imposed on all new construction for energy retrofitting. (c) A special tax imposed on certain properties that require environmental cleanup. a housing development is built. Your answer is correct. (d) Special taxes assessed to finance designated public facilities and/or services
3/8/13 11:45 PM
CHAPTER FOUR - FINANCING & CREDIT DISCLOSURES Chapter 4 Quiz
NAME: Lisa Torres PIN: CRE120421
State Average
Congratulations, you have passed this Chapter Quiz. Your score was 80% (8 correct out of 10 questions). We recommend that you retake the quiz until you receive a score of 100%. Use the button at the bottom of this page to retake the quiz or click the NEXT button to proceed to the next chapter.
Your Grade
86/100
Chapter 4 of 4
83/100 1: The Real Estate Settlement Procedures Act (RESPA) is applicable to the sale of:
(a) Commercial property financed by a conventional lender. (b) Industrial property financed by a federally related mortgage loan. (c) Residential real estate financed …show more content…
(b) As soon as practicable, but before execution of any note or security documents. (c) As soon as practicable, but before the appraisal comes in. (d) As soon as practicable, but prior to recording. Your answer is correct.
8: If the required seller carry-back disclosure statement is not given as prescribed by law, the credit document (note, deed of trust, contract of sale etc.) is: (a) Void and unenforceable. (b) Valid and enforceable. (c) Voidable by the purchaser at any time. (d) Voidable by the purchaser within three days. Your answer is correct.
9: Which of the following best describes a Mello-Roos community facilities district?
(a) Additional taxes assessed for the privilege of living in a quiet zone. (b) Special assessments imposed on all new construction for energy retrofitting. (c) A special tax imposed on certain properties that require environmental cleanup. a housing development is built. Your answer is correct. (d) Special taxes assessed to finance designated public facilities and/or services